Paradise Valley AZ 85253 Market Report July 2012

 

Paradise Valley, AZ 85253 Market Report July 2012

Paradise Valley Homes For Sale

Total Active listings at 244 are down 9.3% over the past 30 days.

As you can see Short Sale Days On Market (DOM) at over 772 is really out of line with REO and Normal DOM. I believe this is due to a couple of very unique Short Sales having an disproportionate effect on the average.

With only 11 properties available, Lender Owned (REO) and Short Sales (SS) make up less than 4% of Total Actives. That’s not a misprint. REO’s and Short Sales are, (as you can see in the graph), incredibly hard to find in Paradise Valley, AZ 85253.

Lender Owned (REO) prices are down again

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by 14.3 % to an average of $164 per square foot, however REO prices have been up and down month to month partly due to the small number of REOs closed each month. With such a small sample one or two properties can have a disproportionate influence on the dollar numbers reported.

Short Sale prices are

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up almost 12% to an average of $221 per square foot month over month and, like other affluent parts of the valley, are beginning to trend up.

Normal Sale prices at $267 per square foot are unchanged over the past 30 days and up 12.4% over

the past five months.

What does this mean for buyers and sellers in Paradise Valley, AZ 85253 :

– If you are thinking of buying a home in Paradise Valley over the next two to three years, don’t wait, prices will continue to rise. Couple great prices with historically low interest rates and the time to buy is now. I believe we’re going to look back at 2012 as a year of great opportunity.

– If you are thinking of selling your Paradise Valley home in 2012 list it now, competition is very low.

– If you are considering a short sale list your home ASAP and complete the sale by the end of 2012 to avoid possible tax issues.

– If you are considering moving from a smaller to a larger home there has never been a better time to do so. Smaller homes are selling quickly and in many cases above list price while there are still some great bargains available in homes larger than 3000 sq.ft.

Work with a REALTOR who truly understands the Paradise Valley, AZ 85253 Market. E-mail Nancy@NancyLaswick.com or call (602) 793-1627.

Whether you are buying or selling a home in Paradise Valley, AZ 85253 I offer a free customized market report. As an informed buyer or seller you’ll make better decisions.

All content in this post is protected by copyright. © Nancy Laswick 2012. All Rights Reserved.

Please Note:All statistics and figures are reported from the Arizona Regional Multiple Listing Service (ARMLS) and/or The Cromford Report and are deemed to be reliable, but cannot be guaranteed for accuracy. It is recommended that any information of special interest be verified through independent sources.